东亚地区金融合作.pdf

Currency Cooperation in East Asia Contents Currency Area East Asia: Cooperation or Confrontation? . . . . . . . . . 1 Frank Rövekamp and Hanns Günther Hilpert China’s Financial System: Past Reforms, Future Ambitions and Current State . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Patrick Hess Japan’s New Monetary Policy: Some Critical Questions . . . . . . . . . . . 43 Franz Waldenberger RMB Internationalisation and Currency Cooperation in East Asia . . . 57 Ulrich Volz Regional Exchange Rate Management in East Asia: Possibilities and Limits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83 Kenichi Shimizu The Chiang Mai Process as a Case Study of Financial Cooperation in Pacific Asia: Institutional Issues and Experiences . . . . . . . . . . . . . . 97 Werner Pascha Reserve Policies of East Asian Central Banks: Causes, Consequences and Prospects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111 Andreas Steiner Korea-China Currency Swap-Financed Trade Settlement Facility . . . . 123 Jerome Shin Asian Currency Cooperation and the Potential Microeconomic Effects of Reduced Exchange Rate Fluctuations . . . . . . . . . . . . . . . . . 133 Hans-H. Bleuel vii viii Contents The Role of Reserve Requirements: The Case of Contemporary China Compared to Postwar Germany. . . . . . . . . . . . . . . . . . . . . . . . 143 Franziska Schobert and Lijun Yu Author Biographies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 163 Currency Area East Asia: Cooperation or Confrontation? Frank Rövekamp and Hanns Günther Hilpert Abstract As East Asia is growing tog